Time and money - how often do we find ourselves with enough of either? My mission is to ensure our planning helps you make choices that will give you more of both. I have spent the better part of the last decade as a Branch Manager with a major Canadian Bank - I know how to tailor financial solutions for any need. With 18 years total experience in the banking industry, I have extensive experience in debt planning, restructuring as well as home purchase financing. Whether this is your 1st or 21st time assessing your finances, my advice can enhance your life for the bett ...
The newly rich: How your world changes when downsizing creates a windfall
Date Posted: September 30, 2014
The investment in your family home has paid off handsomely over the years. You could downsize and buy a cheaper home or condo or you could give yourself the flexibility of renting an equally nice home or condo.
Here are four things to think about:
- What is your new annual budget going to look like?
- In order to cover off annual spending, how much, if any, do you need to draw each year from your non-registered investments?
- Based on your current situation, what is the chance of you outliving your money?
- Your tax bill is getting very big, and you need to figure out how to make it smaller